Hydropower Revenue to be Set Aside as Part of Stabilisation Fund

The revenue generated by the three major hydropower projects - Mangdechhu and Punatsangchhu I and II will be set aside as part of the government’s Stabilisation Fund.

This is to help maintain the country’s economic stability by managing the inflow of income from power exports and its related loans and grants.

The prime minister said the Stabilisation Fund is important. “By next year, Mangdechhu project is coming on line and then Punatsangchhu I and II,” Lyonchhen said.

“We don’t want the government to use all the money, so all the royalties from hydropower earnings would be deposited into the Stabilisation Fund.”

Dasho Tshering Tobgay added that the National Debt Policy has also been finalised. “This is also keeping our government under check. Right now, we are well within the limits.”

The prime minister also said that the service sectors in the country are doing better and must continue to diversify the economy. The government injected Nu 2.1bn in the Economic Stimulus Plan for improving the banking system.

“We encouraged businesses, especially small and cottage industries, and we did that mainly by encouraging the banks to lend to these sectors,” said the prime minister

“Within the Ministry of Finance, we have a department called the Department of Macroeconomic. They operate an early warning system to ensure that we are aware before we receive the warning signals, before our economy is struck with some trouble.”

According to the National Statistics Bureau’s recent report, Bhutan’s Gross Domestic Product last year grew by about Nu 17bn from 2015.

 

By Passang (This article has been edited for the Bhutan Times)

This article first appeared on BBS.

 

 

 

 


Related Posts

Entrepreneurship Course Equips Youth with Business Skills

More than 30 out of school youths are learning how to make banana bread, chips, fruit wine and cardamom tea at a basic...

Oct 15, 2017 15:21

Another Techpark in Bhutan by 2019

The Ministry of Information and Communications (MoIC) will establish another Techpark by 2019. This is geared towards...

Oct 17, 2017 09:38

Thimphu TechPark aims to attract foreign investment

The main mission of the company is to attract reputed IT/ITES companies from both within Bhutan and around the world to...

Oct 01, 2017 17:37

Fish Centre Needs More Trout Feed

Mr Singye Tshering said there is a high demand for fish in the country and it is important to promote the culture among...

Jan 20, 2018 09:23

Farmers in Samtse Ready To Reap Quinoa

Farmers in Samtse are gearing up to harvest quinoa, a new crop which they started cultivating on a small scale as a...

Jan 18, 2018 07:18

Year Round Shiitake Mushroom Cultivation in Bhutan

An entrepreneur in Bhutan invents solar and electric incubator for year round Shiitake mushroom cultivation.

Jan 12, 2018 13:33

Latest

News

Bhutan Achieved 93% Youth Literacy Rate

93 percent of the students attend public schools, but the proportion of students attending public school decreases at higher education...

Jan 13, 2018 11:50

Japan Provides 353 More Power Tillers

The Ambassador of Japan to Bhutan, Kenji Hiramatsu handed over 353 sets of power tillers and accessories worth Nu 137 million to the...

Jan 11, 2018 14:18

Features

Green House Initiative Benefits Highlanders

“With the introduction of green houses in the region, it’s much more convenient and cost saving for us because we don’t have to purchase...

Jan 21, 2018 13:50

Accreditation Of Colleges in Bhutan

An institution is graded on six core elements such as the curriculum, research and innovation, institutional linkage, management,...

Jan 16, 2018 11:05

Sports

Air Pistol Shooting in Bhutan

“I saw the sport on television. I did not know that it would be an interesting experience. It helps us improve breathing and concentration....

Jan 14, 2018 10:44

Martial Arts Gaining Popularity with Bhutanese Youth

The President of BIMA, Damber Singh Rai, said that the programme is aimed at engaging students during the winter break. “It is an exercise...

Jan 06, 2018 08:58

Business

Fish Centre Needs More Trout Feed

Mr Singye Tshering said there is a high demand for fish in the country and it is important to promote the culture among people.

Jan 20, 2018 09:23

Farmers in Samtse Ready To Reap Quinoa

Farmers in Samtse are gearing up to harvest quinoa, a new crop which they started cultivating on a small scale as a pilot project last year.

Jan 18, 2018 07:18

Travel

Duenmang Tshachu – A Popular Hotspring Known for its Healing Properties

Gothpo, 76, who has visited the tshachu, said that the Kheng Duenmang tshachu is a renowned hot spring with 'great healing powers'.

Jan 19, 2018 11:17

Snow Leopards – Ghosts of the Mountains

Called “ghosts of the mountains” by the Himalayan people because of their ability to mysteriously appear and disappear with equal stealth,...

Jan 17, 2018 10:30

Lifestyle

Reading Culture In Bhutan Improving

The public library has initiated a mobile bus book every Saturday for an hour and every Sunday for three to four hours making books...

Jan 22, 2018 07:40

Gyalsey, the Legacy of a Prince

In the 15 years of my life, the funniest yet saddest movie I have ever watched is Gyalsey, the legacy of a prince. Aired first in 2012, this...

Jan 09, 2018 07:10

Subscribe to our newsletter

Never miss out on new happenings and news stories!